Indian government has reached a decision to sell its 76% stake in Air India airlines to private parties.
However, the government has laid down conditions that the brand ‘Air India’ will be retained and the control of the national-carrier will stay with Indian nationals, the government stated in an expression of interest (EOI).
The government has stipulated a net worth criteria of INR 5,000 crore for parties interested in bidding for Air India and the bidders need to ensure that only Indian nationals will have the control of Air India.
The Air India disinvestment transaction will involve Air India, its low-cost arm Air India Express and Air India SATS Airport Services Pvt Ltd.
The divestment will be carried out through an open competitive bidding process.